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, all the sudden want tremendous cuts in medicare. i think we'll get a deal. we have to. i think the president understands that. neil: i know we have to, but we've been this way before. here's my worry, that a bad deal could be worse than no deal. a bad deal, let's say there's cuts, and i don't envision many, your comment, though, withstanding, because i don't see the resolve for it because even slowing growth in a program is opposed by unions, the congressional black caucus, 101 democratic congressmen, when it comes to social security, whether that should or shouldn't be part of the discussion is going to remain as a zeal to raise taxes over cutting spending. that's what worries me. well, you know, neil, i sit here in the financial markets, and so my concern alall the time is protecting and preserving indiduals and corporations' wealth. i look at this, how does it affect the market, and to your point about if this is a bad deal, where there's, you know, no spending cuts, increase in taxes, i think the markets reagent more negatively
, all the sudden want tremendous cuts in medicare. i think we'll get a deal. we have to. i think the president understands that. neil: i know we have to, but we've been this way before. here's my worry, that a bad deal could be worse than no deal. a bad deal, let's say there's cuts, and i don't envision many, your comment, though, withstanding, because i don't see the resolve for it because even slowing growth in a program is opposed by unions, the congressional black caucus, 101 democratic...
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so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. at the chevy year-end event because chevy's giving more. more efficiency with sonic and cruze... more function in equinox and traverse... more dependability with the legendary silverado... and more style in the all-new malibu.
so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your...
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medicare can, i think, be massaged in terms of means testing. with the upper income individuals paying more or sometimes all of their medical expenses. it makes no sense for the government to pay medicare costs for somebody who is earning $700,000 a year. a million dollars a year. so i think we can do some means testing. but by no means am i saying it the means test should be low enough so that our elderly and our poorest americans are going to pay for the deficit. but we want a deal. we want a deal. we'll deal with medicare. and keep in mind, i think this is very important. if the bush tax cuts are expired, as they will be, just as sure as today is friday, they are gone, that generates $950 billion toward the deficit over a ten-year period. we'd set aside $1.2 trillion. we're almost there. and if you do means testing on medicare, we make it. >> well, the republicans would never go along with that kind of means testing because that would hit the wealthier americans. that's who they are going to protect. how would that work out? >> well, you know
medicare can, i think, be massaged in terms of means testing. with the upper income individuals paying more or sometimes all of their medical expenses. it makes no sense for the government to pay medicare costs for somebody who is earning $700,000 a year. a million dollars a year. so i think we can do some means testing. but by no means am i saying it the means test should be low enough so that our elderly and our poorest americans are going to pay for the deficit. but we want a deal. we want a...
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medicare is also headed for bankruptcy, and obama just raided that to the tune of $$716 billion. why? he wanted that money for obama care. how is it possible that the very people that have squandered your retirement, have brought us to the brink of becoming greece, the people that are stealing from their children and breaking open their piggy banks, how can they call people who pay half of the taxes greedy? they're the ones that are agreey, they're the ones that are selfish, and they're the ones that have spent beyond their means. you rarely hear that. why is that? the left controls most media outlets in the country and they define compassion and generosity by spending other people's money. this is a selfish, massive power grab and this is done by greedy politicians, you know, the ones that claim they care about you as they crat -- as they create d see, there are 18 mor million me americans on food stamps. 50 million americans in total on food stampletion. one in six americans live in poverty, millions more living paycheck to paycheck. i suspect with all the government compassion
medicare is also headed for bankruptcy, and obama just raided that to the tune of $$716 billion. why? he wanted that money for obama care. how is it possible that the very people that have squandered your retirement, have brought us to the brink of becoming greece, the people that are stealing from their children and breaking open their piggy banks, how can they call people who pay half of the taxes greedy? they're the ones that are agreey, they're the ones that are selfish, and they're the...
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let's keep medicare... and social security strong for generations to come. is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. and she was looking for a laptop at best buy. let's see if walmart has a similar laptop for less. let's go. dell 14" ultrabook. over $250 less than best buy. $250??!! with 2 gigs more memory! oh my gosh! and -- you get a $100 gift card. wow! chaching. see for yourself if you could save on the laptops you want. [ earl ] get this season's hottest brands -- like the dell ultrabook and receive a $100 gift card and when you make an electronics purchase of $599 or more on your walmart credit card, get no interest if paid in full within 24 months. america's gift headquarters. walmart. >>> welcome back. part of an ongoing series, cnn has taken a closer look at what it means to be black in america today. soledad o'brien went in search of some answers to some of the most pressing, provocative answers such as what dete
let's keep medicare... and social security strong for generations to come. is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. and she was looking for a laptop at best buy. let's see if walmart has a similar laptop for less. let's go. dell 14" ultrabook. over $250 less than best buy. $250??!! with 2 gigs more memory! oh my gosh! and -- you get a $100 gift card....
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this season, discover aleve. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. and the candidate's speech is in pieces all over the district. the writer's desktop and the coordinator's phone are working on a joke with local color. t
this season, discover aleve. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. i have obligations. cute tobligations, but obligations.g. i need to...
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and we want to start the discussion about medicare with the promise we are going to keep medicare and find a way to contain the rate of growth in costs under medicare and all health care been helpful. >> sure. >> but we'll meet that obligation to our seniors. that's where i think we start. >> it sounds like you are open to the idea, then, of some tweaks to medicare, to some tweaks to entitlements for revenue. >> my conditions are -- and i think this is true for most democrats -- is that we maintain the universality of medicare, all seniors being eligible, and that we maintain the benefits under medicare. and the fact is i also think that we've actually begun to do some serious work on delivery system reform, where we are proposing to pay doctors differently from medicare so we reward quality and efficiency and improved outcome for seniors, reduce the costs that way, patient safety in hospitals. this is not insignificant money. but we probably need some more revenues coming into it as well and there are a variety of ways to do that. we haven't really started to have a serious discussio
and we want to start the discussion about medicare with the promise we are going to keep medicare and find a way to contain the rate of growth in costs under medicare and all health care been helpful. >> sure. >> but we'll meet that obligation to our seniors. that's where i think we start. >> it sounds like you are open to the idea, then, of some tweaks to medicare, to some tweaks to entitlements for revenue. >> my conditions are -- and i think this is true for most...
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but we've got to look very carefully at the entitlements and realize that something like medicare, medicare right now you've got a situation where there's not a whole whole lot to cut. i mean, you can cut with regard to renegotiating these rates, putting rates for pharmaceutical products with these various pharmacies. i mean we could save a lot of money there. i think the other thing mark zandy said just yesterday, as you know he was the adviser to mccain, he said in a hearing yesterday that the affordable care act is having some impact on possibly reducing the inflation rate of medical costs in medicare. and he believes that one of the things we have to do is we have to strengthen the affordable care act so that we are concentrating on keeping people well. it's cheaper to keep them well. far more costly when they get sick. and if we can keep them well, that will bring down the cost of medicare at the same time. so yeah, there are many things that we can do. we can make that medicare system much more efficient and effective. and i believe the president is committed to doing that. i know i a
but we've got to look very carefully at the entitlements and realize that something like medicare, medicare right now you've got a situation where there's not a whole whole lot to cut. i mean, you can cut with regard to renegotiating these rates, putting rates for pharmaceutical products with these various pharmacies. i mean we could save a lot of money there. i think the other thing mark zandy said just yesterday, as you know he was the adviser to mccain, he said in a hearing yesterday that...
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with the bush tax cuts, the aadjustments to the alternative to the tax end payments to doctors under medicare, there's another crucial piece of legislation set to expire. the renewable tax credit gives wind producers a tax credit that led to $20 billion in private investment and the creation of 75,000 jobs. in fact, we're in the midst of an incredible boone with wind energy. this increases 600% between 2006 and 2011 going from supplying 18% of american electric generate heing capacity to 32%. there's solar, which according to the international energy agency is the fastest growing because the solar panels are dropping at 7% a year. it pushes the price down 40% in the past year. a all of this is encouraging. because of the costs aren't included in gas and coal, the only way to be competitive is through subsidies like the renewable energy tax credit. continuity and the availability of the renewable tax credit ensured steady growth in wind power. conversely in 1999, 2001 and 2003 wrecked havoc in the years that followed. the faite the clean energy lies in the hands of lawmakers which is a scary p
with the bush tax cuts, the aadjustments to the alternative to the tax end payments to doctors under medicare, there's another crucial piece of legislation set to expire. the renewable tax credit gives wind producers a tax credit that led to $20 billion in private investment and the creation of 75,000 jobs. in fact, we're in the midst of an incredible boone with wind energy. this increases 600% between 2006 and 2011 going from supplying 18% of american electric generate heing capacity to 32%....
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enormous profits pulled from the labor value of workers and through food stamps an the provision, and medicare, we end up subsidizing these big corporations making big profits. >> let's go back to the small business thing. i do not want to leave on this table the fact that somehow small business is going to be detrimentally after feblged by obama care. >> how big is your small business? >> we only have two people, my sons, who are covered by the health care. >> if you are a two-person company, you are a small business person, obama care is not going to affect you in any way, other than the fact that you are going to be able to go to a small business and actually as an employer pick up some affordable health care for your employees or if you don't want to be involved, the individuals will go to the individual health care insurance place where they will purchase their own insurance but it will be at a level that will be -- that they will be able to afford. >> this is still baked into the system? it is the fatal flaw of the health industry in this country. it is the world war ii e.r.a. the employ
enormous profits pulled from the labor value of workers and through food stamps an the provision, and medicare, we end up subsidizing these big corporations making big profits. >> let's go back to the small business thing. i do not want to leave on this table the fact that somehow small business is going to be detrimentally after feblged by obama care. >> how big is your small business? >> we only have two people, my sons, who are covered by the health care. >> if you...
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been-- you look at entitlement programs and president obama and a lot of democrats say we can't cut medicare, social security, medicaid. and that's half the budget there. of course, we're spending 600, 700 billion dollars a year just to pay the interest on the debt. just on the interest. so you don't get any return on that. one last point, if we stay on the course we're on over the next ten years, do you know the biggest single expend did your item in the budget? >> i do, servicing the national debt. >> almost a trillion dollars a year to pay for our past fiscal sins. >> eric: i only have a half minute or so. is there any case in american history where raises taxes worked to stimulate the economy? >> i don't think so. a lot of experiences by the way, in the 60's under john f. kennedy, a democrat, in the 80's under a reagan when we cut tax rates the revenues went up, you know that, when we cut the tax rate. >> eric: i do, but i wanted to hear from steve moore, thank you very much. >> great to be with you, sir, have a great weekend. >> eric: he's meant to bring joy, but this big santa is stirr
been-- you look at entitlement programs and president obama and a lot of democrats say we can't cut medicare, social security, medicaid. and that's half the budget there. of course, we're spending 600, 700 billion dollars a year just to pay the interest on the debt. just on the interest. so you don't get any return on that. one last point, if we stay on the course we're on over the next ten years, do you know the biggest single expend did your item in the budget? >> i do, servicing the...